Address
707 W Elm Street, Urbana, IL
Price
$ 575,000
Property Attributes
- MLS#12759922
- TypeMulti-Family
- Listing Status Active
- CountyCHAMPAIGN
- CityUrbana
- AreaUrbana
- Zip61801
- StyleMulti-Family
- Taxes$ 17083
- Price$ 575,000
- Bedrooms9
- Full Bathrooms0
- Half Bathrooms0
Data Source:
Midwest Real Estate Data (MRED)
Property Description
Great opportunity to own a 5-unit multifamily property located in the Enterprise Zone and just minutes from the University of Illinois and downtown Urbana. The property features five furnished apartments, including a unique two-story townhouse with 4 bedrooms and 2 full baths, two 3-bedroom apartments with attractive cathedral ceilings, and two 2-bedroom apartments and over $6,000 in Gross Monthly Income. Each unit offers a gas fireplace, refrigerator, stove, dishwasher, microwave, and either a private balcony or patio. Residents also have access to on-site laundry facilities for an additional charge, along with assigned off-street parking. Rent includes fiber-optic internet and common-area fees, while electricity and water are separately metered and billed directly to tenants. The property has a newer roof, numerous recent updates, and a strong rental history. All five units are currently rented for the 2026-2027 school year, providing an excellent opportunity for an investor looking for immediate rental income. The location is hard to beat-approximately 11/2 blocks east of Lincoln Avenue and just one block north of Green Street, providing easy access to the University of Illinois, downtown Urbana, restaurants, shopping, and other area amenities. A solid investment opportunity in a convenient and highly desirable rental location. Seller would like to sell 707 Elm with 705 Elm (Adjacent 10 unit). Financials are attached.
| Price History | |
|---|---|
| 9/15/2026 | Listed $575,000 |
General Features
| Sewer | Storm Sewer |
|---|---|
| Cooling | Central Air |
| Utilities | Sewer Connected |
| Possession | Closing |
| Zoning | MULTI |
| Tenant Pays | Electricity,Water,Hot Water |
| Stories Count | 3 |
| Township | Cunningham |
| Tax Year | 2025 |
| Current Use | Multi-Family |
| Gross Income | 66468 |
| County | Champaign |
| Property Type | Commercial Sale |
| Possible Use | Multi-Family |
| Status | Active |
| Directions | 1.5 Blocks east of Lincoln on Elm |
| City | Urbana |
| Number Of Units Total | 5 |
| MLS Area | Urbana |
| Tax Annual Amount | 17083.38 |
| Additional Parcels Y/N | No |
| Standard Status | Active |
| Property Type | Multi Family 5+ |
Exterior Features
| Water Source | Municipal Water |
|---|---|
| Lot Dimensions | 121.5 X 55.75 |
| Frontage Type | City Street |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 61801
Price
Taxes
Visits
Midwest Real Estate Data (MRED) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than eXp Realty in Illinois may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2026 All rights reserved.Based on information submitted to the MLS GRID as of September 25, 2026 2:41 AM UTC All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice.
Data is updated as of September 25, 2026 2:41 AM UTC
